Hi,
Here are the steps I followed to resolve the issue.
1. Back up Quickbooks Desktop.
2. Go to your control panel to uninstall Quickbooks Desktop. (Note: If uninstallation rolls back continuously, uninstall the Quickbooks Tool Hub application).
3. Login to your Intuit account and download your Quickbooks Desktop.
4. Install the downloaded Quickbooks Desktop and enter your license information.
5. Under Custom and Network options, select "I'll be using Quickbooks Desktop on this computer."
6. Next, select Install. You may have to complete steps 4 through 6 twice. And on the second attempt, select repair.  
7. After installation is complete, restore QuickBooks Desktop from back up.
8. Enter your Admin password.
9. Under the Employees tab, select Get Payroll Updates.
10. Make sure Download entire payroll update is selected and press update.
 
This will help others who are experiencing the same issue.